Key Highlights

  • Nanosonics Limited (ASX:NAN) reported FY26 Revenue of AUD 203.9 million, increasing 3% year on year.
  • Revenue increased 6% on a constant-currency basis to AUD 211.5 million, according to the FY26 release.
  • Total trophon placements rose 9% to 4,230, while the global installed base reached 39,230 units.
  • Reported EBIT fell 10% to AUD 16.0 million, although constant-currency EBIT increased 21%.
  • The company held AUD 155.2 million in cash with no Debt and planned a staged CORIS launch during FY27.

Nanosonics Limited (ASX:NAN) supplies infection-prevention systems and related consumables for healthcare settings. On 25 August 2026, NAN released its FY26 financial results, reporting higher device placements and an expanding installed base for the trophon franchise. The results also outlined preparations to commercialise the newer CORIS system. Currency movements affected reported growth, making it important to distinguish reported Australian-dollar results from management’s constant-currency comparisons.

Reported Revenue and Earnings Performance

FY26 revenue increased to AUD 203.9 million from AUD 198.6 million in FY25, a 3% reported increase. The company stated that revenue would have reached AUD 211.5 million on a constant-currency basis, corresponding to 6% growth. The alternate measure removes movements in exchange rates and is not the reported amount recognised in the accounts.

EBIT decreased 10% to AUD 16.0 million from AUD 17.8 million. At constant currency, management reported EBIT of AUD 21.6 million, up 21%. Gross Margin was 76.9%, compared with 78.2% in FY25, reflecting currency movements and changes in product mix. These figures present different measures of operating performance rather than contradictory results.

trophon Placements and Recurring Revenue

The company reported 4,230 trophon unit placements during FY26, an increase of 9% on the prior year. Its cumulative global installed base reached 39,230, up 6%. North American upgrades totalled 1,980 units and rose 32%, reflecting replacement Demand for newer-generation equipment as well as additions to the wider operating fleet.

Capital revenue increased 4% to AUD 54.7 million, while Recurring Revenue rose 2% to AUD 149.2 million. The latter included consumables, service and other related income. trophon-only EBIT, reported separately from costs associated with newer systems, rose 5% to AUD 50.6 million. This divisional result cannot be substituted for consolidated EBIT.

CORIS Preparation and Regulatory Milestones

NAN continued a controlled market release of its CORIS endoscope-reprocessing system during FY26. The company reported operational experience from participating sites and outlined commercial launches for the United Kingdom, Ireland and Australia in the first half of FY27, with a U.S. launch expected later.

Its announcement described regulatory milestones across Australia, Europe, the United Kingdom and the United States, including an initial U.S. clearance and further filings. These clearances and plans do not establish that sales at scale have begun. Customer training, demand generation, procurement cycles and additional regulatory steps remain relevant to the intended expansion.

Cash Position and Planned Investment

Cash and cash equivalents amounted to AUD 155.2 million at 30 June 2026, and NAN reported no debt. The period included completion of an AUD 20 million share buyback. Management stated that, excluding the buyback, the company generated AUD 13.6 million in cash, although increased inventory Investment was part of its broader Cash Flow activity.

The board also announced a new on-market buyback of up to AUD 40 million for FY27. At the same time, the company planned greater investment to support CORIS awareness and commercial rollout. The eventual effect on margins and cash generation will depend on product adoption, launch costs and continuing trophon performance.

Key Insights

NAN recorded higher FY26 revenue and trophon placements, although reported EBIT declined in Australian dollars. Constant-currency measures showed stronger growth, illustrating the significance of exchange-rate effects. The established trophon Business continues to fund operations while CORIS moves toward commercial launch.